GasLog Ltd. Announces Delivery of the GasLog Wales and Commencement of 12-Year Charter with JERA

Piraeus, Greece, May 12, 2020 (GLOBE NEWSWIRE) -- GasLog Ltd. (“GasLog” or “the Company”) (NYSE: GLOG) yesterday took delivery of the GasLog Wales, a 180,000 cubic meter cargo capacity LNG carrier with dual fuel medium speed propulsion (“X-DF”) and Mark III Flex Plus containment system. The vessel immediately commenced a 12-year charter with the principal LNG shipping entity of Japan’s Jera Co., Inc. (“JERA”).

Paul Wogan, Chief Executive Officer of GasLog, stated “I am very pleased to announce the delivery of the GasLog Wales and commencement of her 12-year charter to JERA, one of the world’s largest LNG buyers. The vessel is the second of seven vessels we will be taking delivery of through the third quarter of 2021, representing approximately $145 million of incremental EBITDA per annum once fully delivered.

I want to thank our crew, site team and shore staff as well as our partners at Samsung for their hard work and dedication in delivering the GasLog Wales safely and on budget, despite the many challenges presented by the COVID-19 pandemic.”

Contacts: 

Joseph Nelson 
Head of Investor Relations 
Phone: [phone] 

Email: [e-mail] 

About GasLog 

GasLog is an international owner, operator and manager of LNG carriers providing support to international energy companies as part of their LNG logistics chain. GasLog’s consolidated fleet consists of 35 LNG carriers. Of these vessels, 19 (14 on the water and five on order) are owned by GasLog, one has been sold to a subsidiary of Mitsui & Co., Ltd. and leased back to GasLog under a long-term bareboat charter and the remaining 15 LNG carriers are owned by the Company’s subsidiary, GasLog Partners. GasLog’s principal executive offices are at 69 Akti Miaouli, 18537 Piraeus, Greece. Visit GasLog’s website at http://www.gaslogltd.com.

Forward Looking Statements

All statements in this press release that are not statements of historical fact are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, particularly in relation to our operations, cash flows, financial position, liquidity and cash available for dividends or distributions, plans, strategies, business prospects and changes and trends in our business and the markets in which we operate. We caution that these forward-looking statements represent our estimates and assumptions only as of the date of this press release, about factors that are beyond our ability to control or predict, and are not intended to give any assurance as to future results. Any of these factors or a combination of these factors could materially affect future results of operations and the ultimate accuracy of the forward-looking statements. Accordingly, you should not unduly rely on any forward-looking statements.